Some republicans feel that defaulting won't be that bad

Back in the 1990s the liberals behind Bill Clinton balanced the budget. The Conservatives decided that was bad thing and gave massive tax cuts to the wealthy creating a deficit. They then started 2 wars and destroyed the economy.

When Obama took office the bills came due for the wars, for GW's TARP, and for the ruined economy (his first year the Deficit had sky rocketed). Thankfully Obama has turned this around and reduced the deficit each year since 2009 and keeps trying to fix the economy. The Tea Party is now doing everything they can to destroy it again.

You are right. Not one likes to pay more taxes but that's the only way out because we have already spent the money. If you think it's bad now you should see when the conservative extremists ruined the US credit and we have to pay much higher interests for money we owe.